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HomeMy WebLinkAbout1985-080 Trust Deed - Chisholm '0'" No. ..,-0.....,,"~t D"~,,!";..::::T~~ST_O~_('~. 5 '1~ ~L ~~__ ~~_ ~ __ . -, ".':"'~''- CAW,"",," ". 00., ,.. ,,^' 0, .. "'0< oc ----TRUST-~DEED--~-~-7-- ,37. IE. gDf:\ (~Ol>) 8.00 85. -04888 ~,I:) 0 THIS TRUST DEED, made this ....3.0.~.~._...__...day of .__M.~!rt-:..__........__....__......__....., 19.--8~between .. _.. -..... ._. -.. Ale_x.. .C.hi..s hQ 1m............. _._... _oo..., _...... - _.. _'.... _.' _.... .........__ __........._.... .__'.".'_ _....... _................ _..... _ __....oo............ . _... _...... _oo_ --... - ----.... --. -............... --.. -.......oo..... _"."."""'.""".. _.oo......oo..oo..oo.. u............. oo....__ __ _. .__.__........ .______... __ __..oooo.... ...... __....oo............oo . __..oo__..........., as Grantor, .--.c.r.at.er...Tit.le....ln..s.uranc.eoo..c.ompany...__..anoo.Gre.go.n.__c.orp_orat.io.n, as Trustee, and ..--.-------------..-.-------------.-------------.-.-.------------------------------------------------------------------------------------------.------------------------------------------------- . "'--'OO"'..oooo __..... .The... .C.i.t.y... Q f... .Ashl.and.......... _. .__.......... __ .______... .__... ..__.. __oo.. "__""oo.. "oO.. .__.....oo.. __...__.....oooo..........oo......oo...__.... as Beneficiary, WITNESSETH: Grantor irrevocably grants, bargains, sells and conveys to In ...----..J.ac.ks.onoo..mmm__..m..__...County, Oregon, described as: between Sections 8 and 9 in Township 39 South, mette Meridian in Jackson County, Oregon; thence West 374.4 feet to the West line of Granite Street; to the true point of beginning; thence North 50 00' the South line of Strawberry Lane in the City of Ashland; feet to a stake on the East line of tract described in Jackson County, Oregon, Deed Records; thence South 40 45' feet to a stake; thence East 100.0 feet to the true point trustee In trust, with power of sale, the property Commencing at the quarter corner Range 1 East of the Willa- South 319.7 feet; thence thence West 150.0 feet 00" West 244.5 feet to thence West 100.0 Volume 285, Page 353, 00" East 244.5 of beginning. together with all and singular the tenements, hereditaments and appurtenances and all other rights thereunto belonging or in anywise now or hereafter appertaining, and the rents, issues and profits thereof and all fixtures now or hereafter attached to or used in connec- tion with said real estate. FOR THE PURPOSE OF SECURING PERFORMANCE of Four ThQUSnand _ Eigh.t nHundr.ed. sum of each agreement of grantor herein contained and payment of the .L$.44-_RO_Q~__O.O) n__n___Dollars, with interest thereon according to the terms of a promissory note of even date herewith, payable to beneficiary or order and made by grantor, the final payment of principal and interest hereof, it not sooner paid, to be due and payable upon. salen _or_ t.ransfer, 19n_ The date of maturity of the debt secured by this instrument is the date, stated above, on which the final instalJment of said note becomes due and payable. In the event the within described property, or any part thereof, or any interest therein is sold, agreed to be sold, conveyed, assigned or alienated by the grantor without first having obtained the written consent or approval of the beneficiary. then, at the beneficiary's option, alJ obligations secured by this instrument, irrespective of the maturity dates expressed therein, or herein, shalJ become immediately due and payable. The above described real property is not currently used for agricultural, timber or grazing purposes. To protect the security of this trust deed, grantor agrees: 1. To protect, preserve and maintain said property in good condition and repair; not to remove or demolish any building or improvement thereon; not to commit or permit any waste of said property. 2. To complete or restore promptly and in good and workmanlike manner any building or improvement which may be constructed, damaged or destroyed thereon, and pay when due all costs incurred therefor. 3. To comply with all laws, ordinances, regulations, covenants, condi- tions and restrictions affecting said property; if the beneficiary so requests, to join in executing such financing statements pursuant to the Uniform Commer- cial Code as the beneficiary may require and to pay for filing same in the proper public office or offices, as well as the cost of all lien searches made by filing officers or searching agencies as may be deemed desirable by the beneficiary. 4. To provide and continuously maintain insurance on the buildings now or hereafter erected on the said premises against loss or damage by fire and such other hazards as t~ bw~iRaryOrpfly from time to time req,!ire, ~n an amount not less than $-':L,-_O U-Un.nUn..nn, wntten In companies acceptable to the beneficiary, with loss payable to the latter; all policies of insurance shall be delivered to the beneficiary as soon as insured; if the grantor shall fail for any reason to procure any such insurance and to deliver said policies to the beneficiary at least fifteen days prior to the expira- tion of any policy of insurance now or hereafter placed on said buildings, the beneficiary may procure the same at grantor's expense. The amount collected under any fire or other insurance policy may be applied by benefi- ciary upon any indebtedness secured hereby and in such order as beneficiary may determine, or at option of beneficiary the entire amount so collected, or any part thereof, may be released to grantor. Such application or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. 5. To keep said premises free fronl construction rens and to pay all taxes, assessments and other charges that may be levied or assessed upon or against said property before any part of such taxes, assessments and other charges become past due or delinquent and promptly deliver receipts therefor to beneficiary; should the grantor fail to make payment of any taxes, assess- ments, insurance premiums, liens or other charges payable by grantor, either by direct payment or by providing beneficiary with funds with which to make such payment, beneficiary may, at its option, make payment thereof, and the amount so paid, with interest at the rate set forth in the note secured hereby, together with the obligations described in paragraphs 6 and 7 of th!s trust deed, shall be added to and become a part of the debt secured by thIS trust deed without waiver of any rights arising from breach of any of the covenants 'hereof and for such payments, wth interest as aforesaid, the prop- erty hereinbefore described, as well as the grantor, shall be bound to the same extent that they are bound for the payment of the obligation herein described, and all such payments shall be immediately d.ue and payable. ":ith- out notice, and the nonpayment thereof shall, at the optIOn of the benefiCIary, render all sums secured by this trust deed immediately due and payable and constitute a breach of this trust deed. 6. To pay all costs, fees and expenses of this trust including ~he cost of title search as well as the other costs and expenses of the trustee Incurred in connection with or in enforcing this obligation and trustee's and attorney's fees actually incurred. 7. To appear in and defend any action or proceeding purporting to affect the security rights or powers of beneficiary or trustee; and in any suit, action or proceeding in which the beneficiary or trustee may appear, including any suit for the foreclosure of this deed, to pay all costs and expenses, in- cluding evidence of title and the beneficiary's or trustee's attorney's fees; the amount of attorney's fees mentioned in this paragraph 7 in all cases shall be fixed by the trial court and in the event of an appeal from any judgment or decree of the trial court, grantor further agrees to pay such sum as the ap- pellate court shall adjudge reasonable as the beneficiary's or trustee's attor- ney's fees on such appeal. I t is mutually agreed that: 8. In the event that any portion or all of said property shall be taken under the right of eminent domain or condemnation, beneficiary shall have the right, if it so elects, to require that all or any portion of the monies payable as compensation for such taking, which are in excess of the amount required to pay all reasonable costs, expenses and attorney's fees necessarily paid or incurred by grantor in such proceedings, shall be paid to beneficiary and applied by it first upon any reasonable costs and expenses and attorney's fees, both in the trial and appellate courts, necessarily paid or incurred by bene- ficiary in such proceedings, and the balance applied upon the indebtedness secured hereby; and grantor agrees, at its own expense, to take such actions and execute such instruments as shall be necessary in obtaining such com- pensation, promptly upon beneficiary's request. 9. At any time and from time to time upon written request of bene- ficiary, payment of its fees and presentation of this d.eed anc! the note tor endorsement (in case of full reconveyances, for cancellatIOn), WIthout affecting the liability of any person for the payment of the indebtedness, trustee may (a) consent to the making of any map or plat of said property; (b) join in granting any easement or creating any restriction thereon; (c) join in any subordination or other agreement affecting this deed or the lien or charge thereof; (d) reconvey, without warranty, all or any part of the property_ The grantee in any reconveyance may be described as the "person or persons legally entitled thereto," and the recitals there;n of any matters or facts shall be conclusive proof of the truthfulness thereof. Trustee's fees for any of the services mentioned in this paragraph shall be not less than $5. 10. Upon any default by grantor hereunder, beneficiary may at any time without notice, either in person, by agent or by a receiver to be ap- pointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of said prop- erty or any part thereof, in its own name sue or otherwise collect the rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attor- ney's fees upon any indebtedness secured hereby, and in such order as bene- ficiary may determine. 11. The entering upon and taking possession of said property, the collection of such rents, issues and profits, or the proceeds of fire and other insurance policies or compensation or awards for any taking or damage of the property, and the application or release thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. 12. Upon default by guintor in payment of any indebtedness secured hereby or in his performance of any agreement hereunder, the beneficiary may declare all sums secured hereby immediately due and payable. In such an event the beneficiary at his election may proceed to foreclose this trust deed in equity as a mortgage or direct the trustee to foreclose this trust deed by advertisement and sale. In the latter event the beneficiary or the trustee shall execute and cause to be recorded his written notice of default and his election to sell the said described real property to satisfy the obligation secured hereby whereupon the trustee shall fix the time and place of sale, give notice thereof as then required by law and proceed to foreclose this trust deed in the manner provided in ORS 86.735 to 86.795. 13. After the trustee has commenced foreclosure by advertisement and sale, and at any time prior to 5 days before the date the trustee conducts the sale, the grantor or any other person so privileged by ORS 86.753, may cure the default or defaults. If the default consists of a failure to pay, when due, sums secured by the trust deed, the default may be cured by paying thE entire amount due at the time of the cure other than such portion as would not then be due had no default occurred. Any other default that is capable of being cured my be cured by tendering the performance required under the obligation or trust deed. In any case, in addition to curing the default or defaults, the person effecting the cure shall pay to the beneficiary all costs and expenses actually incurred in enforcing the obligation of the trust deed together with trustee's and attorney's fees not exceeding the amounts provided by law.- 14. Otherwise. the sale shall be held on the date and at the time and place designated in the notice of sale or the time to which said sale may be postponed as provided by law. The trustee may sell said property either in one parcel or in separate parcels and shall sell the parcel or parcels at auction to the highest bidder for cash, payable at the time of sale. Trustee shall deliver to the purchaser its deed in form as required by law conveying the property so sold, but without any covenant or warranty, express or im- plied. The recitals in the deed of any matters of fact shall be conclusive proof of the truthfulness thereof. Any person, excluding the trustee, but including the grantor and beneficiary, may purchase at the sale. 15. When trustee sells pursuant to the powers provided herein, trustee shall apply the proceeds of sale to payment of (1) the expenses of sale, in- cluding the compensation of the trustee and a reasonable charge by trustee's attorney, (2) to the obligation secured by the trust deed, (3) to all persons having recorded liens subsequent to the interest of the trustee in the trust deed as their interests may appear in the order of their priority and (4) the surplus, if any, to the grantor or to his successor in interest entitled to such surplus. 16. Beneficiary may from time to time appoint a successor or succes- sors to any trustee named herein or to any successor trustee appointed here- under. Upon such appointment, and without conveyance to the successor trustee, the latter shall be vested with all title, powers and duties conferred upon any trustee herein named or appointed hereunder. Each such appointment and substitution shall be made by written instrument executed by beneficiary, which, when recorded in the mortgage records of the county or counties in which the property is situated, shall be conclusive proof of proper appointment of the successor trustee. 17. Trustee accepts this trust when this deed, duly executed and acknowledged is made a public record as provided by law. Trustee is not obligated to notify any party hereto of pending sale under any other deed of trust or of any action or proceeding in which grantor, beneficiary or trustee shall be a party unless such action or proceeding is brought by trustee. NOTE: The Trust Deed Act provides that the trustee hereunder must be either an attorney, who is an active member of the Oregon State Bar, a bank, trust company or savings and loan association authorized to do business under the laws of Oregon or the United States, a title insurance company authorized to insure title to real property of this state, its subsidiaries, cHi liates, agents or branches, the United States or any agency thereof, or an escrow agent licensed under ORS 696.505 to 696.585. I - 85..04888 The grantor covenants and agrees to and with the beneficiary and those claiming under him, that he is law- fully seized in fee simple of said described real property and has a valid, unencumbered title thereto This Trus t Deed is inferior to A Trust Deed, including the terms and provisions thereof, dated October 31, 1980, recorded November 4, 1980, as Document No. 80-22596, Official Records of Jackson County, Oregon, given to secure payment of a note, with interest thereon and that he will warrant and forever defend the same against all persons whomsoever. The grantor warrants that the proceeds of the loan represented by the above described note and this trust deed are: (a)* primarily for grantor's personal, family, household or agricultural purposes (see Important Notice below), 6bXX~O{~tJi.~KOOXQ{X~tXK~~NPrnK~~cK~<<~K>x<<cKtlQO{lxrMlele}i)}{~l!iXl~iiii~xtXii~~ ~ This deed applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, devisees, administrators, execu- tors, personal representatives, successors and assigns. The term beneficiary shall mean the holder and owner, including pledgee, of the contract secured hereby, whether or not named as a beneficiary herein. In ;tonstruing this deed and whenever the context so requires, the masculine gender includes the feminine and the neuter, and the singular number . eludes the plural. IN WITNESS WHEREOF, said grantor has hereunto set hi * IMPORTANT NOTICE: Delete, by lining out, whichever warranty (a) or (bl is not applicable; if warranty (a) is applicable and the beneficiary is a creditor as such word is defined in the Truth-in-Lending Act and Regulation Z, the beneficiary MUST comply with the Act and Regulation by making required disclosures; for this purpose, if this instrument is to be a FIRST lien to finance the purchase of a dwelling, use Stevens-Ness Form No. 1305 or equivalent; if this instrument is NOT to be a first lien, or is not to finance the purchase of a dwelling use Stevens-Ness Form No. 1306, Or equivalent. If compliance with the Act is not required, disregard this notice. (If the signer of the above is a corporation, use the form of acknowledgment opposite.) STATE OF OREGON, County of _ ___Jackson_ ) ) ss. ) S T E OF OREGON, ~6e~i-ssionfx-pires- JANE DAVIS NOTARY PUBLIC OREGON -l _>_/;A duly sworn, did sa president and secretary of ---.-;__Wh;;~ each being first ___, 19_ Personally appeared the above named Alex. Chis_holm appeared ..-'/- __ _______ and _uu_ ;';,F ,/'~ ;;.-/- _and acknowledged the foregoing instru- ment to be his volu act and deed. . - - - --, a corporation, and that the sf*fl ixed to the foregoing instrument is the corporate seal of said corpofation a that the instrument was signed and sealed in behalf of saicJ.~corporation b uthority of its board of directors; and each of them fJC'knowledged said i rument to be its voluntary act and deed. ,/ Before me: /" .// (OFFICIAL SEAL) (OFFICIAL SEAL) My commission expires: /2- -).. 7..- &7 //_ _____u_____ N ~ Public for Oregon ~y commission expires: REQUEST FOR FULL RECONVEYANCE To be used only when obligations have been paid. TO: __ _____, Trustee The undersigned is the legal owner and holder of all indebtedness secured by the foregoing trust deed. All sums secured by said trust deed have been fully paid and satisfied. You hereby are directed, on payment to you of any sums owing to you under the terms of said trust deed or pursuant to statute, to cancel all evidences of indebtedness secured by said trust deed (which are delivered to you herewith together with said trust deed) and to reconvey, without warranty, to the parties designated by the terms of said trust deed the estate now held byfyou under the same. Mail reconveyance and documents to DATED: , 19__ Beneficiary Do not lose or destroy this Trust Deed OR THE NOTE which it secures. Both must be delivered to the trustee for cancellation before reconveyance will be made. TRUST DEED STATE OF OREGON, ~ss. (FORM No. 8811 STEVENS-NESS LAW PUB. CO.. PORTLAND. ORE. Grantor SPACE RESERVED FOR RECORDER'S USE Jackson County, Oregon Recorded OFFICIAL RECORDS 31985~~ /C.';lbAPR Beneficiary KATHLEEN S.BECKETT ~RDER By I Deputy / AFTER RECORDING RETURN TO ~ .. PROMISSORY NOTE Loan Amount: $4,800.00 Loan Number 083 HD-M Date: Ashland, Oregon FOR VALUE RECEIVED pursuant to a Deferred Payment Loan from the City of Ashland, the undersigned jointly and severally promise(s) to pay to the order of the City of Ashland, a political subdivision of the State of Oregon, or it's successors, the sum of Four Thousand Eight Hundred ------------------------ dollars. ($ 4.800.00 ). THIS NOTE shall become due and payable upon any actual or attempt- ed transfer, voluntary or involuntary, including by operation of law or death of the undersigned, of any interest in that certain real property identified and described in the Trust Deed securing this indebtedness. When death of the undersigned causes transfer of the property to a surviving spouse, the above previous shall not apply and the rights and responsibilities of this Note shall transfer with the property to the surviving spouse. Said payment shall be made in lawful money of the United States of America at the office of the Ashland Housing Rehabilitation Program, Ashland, Oregon, or at such other places as shall be designated by the City of Ashland. The Llndersigned reserves the right to repay at any time all of the f)J:- i nc ipal arnoun t of this Note in a s ingle payment without the pay- ment of penalties, discount or premiums. Payment of less thaIl the full sum owing shall not be accepted. it suit or action is instituted by the City of Ashland to recover on this Note, the prevailing party agrees to pay to the losing I)drt all costs of such collection, including reasonable attorney's f"i'. and court costs :Z:::I::U::P::~~ SECUR G THE NOTE, BY TjE U. ERSIGNED, AS OF DATE BELOW (signature) (date)